Revenue growth in Q2 was mainly driven by our memory business. Specifically, in DRAM and flash product, which increased 8.8% and 15.8% compared to Q1, respectively.
We are also pleased with the revenue growth achieved in our mixed-signal and LCD driver business compared to Q1 which also showed robust growth of 9.8% and 8.4%, respectively. Our overall utilization rate acting by quarter improved to 78%, compared to 73% in Q1 2012.
Let’s turn to our Q3 outlook. Based on exiting customer focus we currently expect revenue growth of about 4% to 8% for the third quarter 2012 as compared to the second quarter, with gross margin on consolidated basis further improved to above 12% to 18%. Based on our current plan we expect strength in our LCD driver business to continue as we move through 2012.
The Gold Bumping business is expected to grow 15% in Q3 with expected growth of above 6% to 8% growth for both chip-on-film and chip-on-glass, assembly and testing business is forceable.Our DRAM and mixed-single business are both expected to be up in a low single digit, while our wafer testing business of fab product is expected to be slightly softer in Q3 compared to Q2. Before I turn the call over to S.K., I want to spend couple of minutes to discuss our recent dividend announcement and business development. Firstly, there had been a lot of market uptick regarding our major U.S. DRAM customer issues from LCD sales organization team. We had received many inquiries on how our customer decision can influence our further business strategy and we make some plan. We see that longer term this can be a potential positive for ChipMOS and industry, in short-term though it is too early to know how this will be settle out and what the impact if any would be on our business with a view of combination as a positive for LCDs, micro and industry. Read the rest of this transcript for free on seekingalpha.com